“Set off against positive trading for the year were major changes to infrastructure and in particular warehousing, creating a solid basis for the future progression of the business.

“The group is well funded and maintains its focus and investment in infrastructure and the strength of its management team. The directors also believe the business is well placed to exploit current market opportunities but continue forward on a prudent and cautious basis.”

This comes amid today‘s report from the ONS showing the footwear industry in decline, with sales volumes dropping by 5.4 per cent and spend down a further five per cent in September.